MTN mobile lending, VAS rakes in N70 billion in 2021

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Giant telecom company MTN Nigeria reported a revenue of over N70 billion in 2021 from Value Added Services (VAS)

Value-added Services include Backup & welcome back services, airtime lending, mobile money, and voice-based services.

Fintech business continued to gain traction with approximately 770k registered mobile money (MoMo) agents and active users more than doubling to 9.4 million.

This provides a solid foundation on which to launch the MoMo Payment Service Bank (PSB), for which we have received Approval in Principle. The MoMo PSB will provide a powerful platform to drive digital and financial inclusion in Nigeria”.

– Nairametrics

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